At a time when many clubs are owned by rich businessmen, St Mirren FC is on a different course. This club has a deep history. However, it has reinvented itself in recent years with a bold new ownership model: fan ownership. Quite shocking, right? Well, not really.
After years of the club being bought, sold, and mismanaged by wealthy owners, St Mirren Independent Supporters Association (SMISA) launched the ‘buy the buds’ campaign successfully culminating in a buyout of the majority shareholding in 2021, making the club officially fan owned.
This raises the question how can the club stop insider betting, as fans will now have a more direct influence over decisions made by the club. To deal with this, the club will likely follow in the footsteps of AFC Wimbledon and Exeter City, which have been fan-owned since the early 2000s. These clubs are more heavily regulated and must comply with the teams’ governing bodies. Board members must also sign agreements to prevent the misuse of insider knowledge. These steps ensure that fans wagering on St Mirren’s football games can be assured the games are fair.
This article explores how this has worked out for the Scottish football club.
St Mirren in a new era
The concept of fan ownership isn’t entirely new, but it’s not common either. When St Mirren adopted this model in 2020, it grabbed the attention of football fans far beyond Paisley. At that time, it was a rather lengthy process where the supporters officially took power through a unique deal.
Consequently, club fans attained a voice on the field and in boardrooms. They became stakeholders more deeply involved in the day-to-day running of the club, cash flow management, player transfers, and even long-term club plans.
How does fan ownership work?
Fan ownership is an unusual situation whereby a club isn’t owned or controlled by a wealthy individual or company. Instead, the supporters make all the necessary decisions for the team's betterment. Fans can invest in and take ownership of the club through various mechanisms.
Fans can invest in St Mirren by purchasing shares, thus becoming part of the club’s decision-making. By doing so, the club can avoid ownership by individuals with differing values or vision. The ultimate goal is to create a sustainable and democratic structure where fans have the final say.
The influence of fans in running the club
St Mirren is one of the few fan-owned clubs in the UK, and many are closely watching its success. But this raises a prominent question: how do fans influence the club’s operations? Below are just some of the ways:
- Voting rights and elections: one significant influence supporters have is deciding who sits on the board. As shareholders, they vote and have a say in the club’s leadership. This way, only people who genuinely care about St Mirren’s success on and off the field can sit on the board.
- Transparency and communication: fan ownership means a more transparent structure. Supporters can access financial reports and club strategies to understand the club’s operations better. This regular communication ensures accountability both to investors and fans alike.
- Decision-making power on key issues: owning a club is all about making big decisions. When it’s not club finances, it’s a new sponsorship deal, and if not that, then a transfer move. With a fan-owned model, these decisions are made with supporters' input. In some cases, the club puts out surveys and fan consultations just to hear back from them and ensure their voices are heard.
- Fundraising and investment: fundraising is often targeted at wealthy and famous investors. But at St Mirren, the fans play an important role in raising money for the club. The supporters band together to make donations for specific projects or initiatives. They are directly involved in the club’s success.
- Youth development and club culture: Football clubs usually rely on transfer windows to bring new talents into their team. With its fans at the club's helm, St Mirren focuses on developing young talents from within its own ranks. As such, they’ve shifted focus to building solid relationships with local schools and youth teams.
Closing up
St Mirren’s fan-owned model proves that football isn’t always about big-money deals and corporate profits; it can be about community and passion. With the success of this fan-driven approach, the club is changing its future and creating a new blueprint for how football clubs should be run. And it’s just the beginning.